Micron Net Jumps 64%

Updated April 11, 2006 12:01 a.m. ET

Micron Technology Inc.'s fiscal second-quarter profit increased 64% from a year earlier even though revenue dropped amid lower average selling prices for its dynamic random access memory chips. The Boise, Idaho, chip maker posted net income in the quarter ended March 2 of $193.2 million, or 27 cents a share, compared with $117.9 million, or 17 cents a share, a year earlier. Revenue fell 6% to $1.23 billion from $1.31 billion. Gross margins came in at 19%, down from 27% a year ago. While the PC market experienced a quarterly decline in average selling prices for DRAM chips during the start of the quarter, Micron saw...